"Since he joined the club, I've really enjoyed working with Joe and delighted to see him sign on for the rest of the season," Coventry manager Tony Mowbray told the club's website (www.ccfc.co.uk).
"Our staff have worked hard with him to build up his fitness and physicality, and we've seen Joe really buy into what we're trying to do here."
Cole, 34, began his career at West Ham United before moving to Chelsea in 2003. He made 183 appearances for the Blues and also has 56 caps and 10 goals for England.
Cole returned to West Ham in 2013 after a move to Liverpool and a loan spell at French Ligue 1 side Lille.
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He was released by the Hammers in 2014 and moved to Aston Villa for whom he made 16 appearances in total, just one of which was in the current season.
(Reporting by Simon Jennings in Bengaluru. Editing by Patrick Johnston)
